Airline Pilot Central Forums

Go Back  Airline Pilot Central Forums > Airline Pilot Forums > Major > Spirit
Spirit Now Sure As It Emerges From Bankruptcy >

Spirit Now Sure As It Emerges From Bankruptcy

Register
FAQ
Advertising
Calendar
Search
Today's Posts
Mark Forums Read

Notices

Spirit Now Sure As It Emerges From Bankruptcy

   
Old 08-11-2025 | 05:36 PM
  #991  
spooldup
Line Holder
 
Joined: Jun 2021
Posts: 1,363
Likes: 102
From: Joystick Operator
Default
I hurt for you guys, it isn't a position anyone wants to be in and hope for the best for everyone.
Reply
1
Old 08-11-2025 | 05:51 PM
  #992  
Aquaticus
Line Holder
 
Joined: Jul 2014
Posts: 871
Likes: 30
Default
Originally Posted by BusDriver2000
wow, so 2 more quarters of this and we are bankrupt
The business doesn’t operate down to zero. When the credit card companies pull their lines of credit it's imminent. This line “new senior secured notes have a $450 million minimum liquidity covenant” in the ch11 bankruptcy paperwork is pretty telling. These were the 2q numbers and here we are half way through 3q with a cash burn rate that would put them below those liquidity requirements right now.
Reply
0
Old 08-11-2025 | 06:20 PM
  #993  
Name User
Gets Weekends Off
 
Joined: Mar 2014
Posts: 4,114
Likes: 291
Default
Originally Posted by Aquaticus
The business doesn’t operate down to zero. When the credit card companies pull their lines of credit it's imminent. This line “new senior secured notes have a $450 million minimum liquidity covenant” in the ch11 bankruptcy paperwork is pretty telling. These were the 2q numbers and here we are half way through 3q with a cash burn rate that would put them below those liquidity requirements right now.
I don't know Spirit's business very well but we are also entering the slow months of the season. It gets better around late Nov for about 30 days, but late August-September-October are very slow months from an airline perspective.

They basically lost $250m during peak pricing season.
Reply
0
Old 08-11-2025 | 07:01 PM
  #994  
Agent62
On Reserve
 
Joined: Nov 2015
Posts: 155
Likes: 7
Default
Originally Posted by Name User
They basically lost $250m during peak pricing season.

RIP. That is a reeeeeaallyyy good point.

Guys, very sorry to hear about this and hope people can find work elsewhere.
Reply
0
Old 08-11-2025 | 07:11 PM
  #995  
ROTORGUY
On Reserve
 
Joined: Jun 2018
Posts: 61
Likes: 27
Default
Originally Posted by Name User
I don't know Spirit's business very well but we are also entering the slow months of the season. It gets better around late Nov for about 30 days, but late August-September-October are very slow months from an airline perspective.

They basically lost $250m during peak pricing season.
If you lost $250m during the summer flying the next quarter is going to really hurt. With the amount of cash on hand and the current burn rate maybe 6 months left? They are needing to sell 20+ additional planes to keep the business viable so I’ve read. Looks like selling planes and sending pilots to the house is the current game plan for management. Sad deal for everyone involved. I’ve heard United is hiring 2000+ in 2026, Delta and American are hiring possibly hiring 1000+ and last word from SW is hiring 500-600. I hope every furloughed pilot and every pilot at Spirt for that matter gets hired at the airline or their choosing and soon. Good luck guys!
Reply
0
Old 08-11-2025 | 07:55 PM
  #996  
fw90
On Reserve
 
Joined: Jul 2018
Posts: 151
Likes: 21
Default
It’s almost like they are doing this on purpose?
Reply
0
Old 08-12-2025 | 04:12 AM
  #997  
ImSoSuss
Gets Weekends Off
 
Joined: Mar 2021
Posts: 2,847
Likes: 212
Default
Originally Posted by SSlow
There is no turning things around here as our path has been dictated to us by the DOJ. The poors deserve to fly to Florida on the cheap in their pajamas and crocs, as was unanimously decided by one person last year.

Judge Young, this one is for you!!!
And the administration who unnecessarily brought this to court. It was unwarranted and unneeded, but they were very anti-Business. Once the Feds bring something to the courts it is most likely to win no matter who is the judge. 100% on the Administration.
Reply
0
Old 08-12-2025 | 04:12 AM
  #998  
69fastback
Line Holder
 
Joined: Mar 2018
Posts: 380
Likes: 25
Default
As already mentioned a while back, they project the fuel bill will stop getting payed before the end of the year.
Reply
0
Old 08-12-2025 | 04:26 AM
  #999  
mudpie
On Reserve
 
Joined: Jan 2019
Posts: 53
Likes: 6
Default
Originally Posted by Name User
I don't know Spirit's business very well but we are also entering the slow months of the season. It gets better around late Nov for about 30 days, but late August-September-October are very slow months from an airline perspective.

They basically lost $250m during peak pricing season.
Is Q1 for airlines summer or does it follow the yearly calendar of Jan-Mar?
Reply
0
Old 08-12-2025 | 06:14 AM
  #1000  
Chimpy's Avatar
Chimpy
Line Holder
 
Joined: Nov 2015
Posts: 1,863
Likes: 177
Default
Originally Posted by ImSoSuss
And the administration who unnecessarily brought this to court. It was unwarranted and unneeded, but they were very anti-Business. Once the Feds bring something to the courts it is most likely to win no matter who is the judge. 100% on the Administration.
Or was it the Greedy Shareholders who turned down F9 for a few dollars more where in the end they got Jack****. Hate on Ted all you want but he literally went on National TV and said multiple times the Nk/JB merger would
not be approved.
Reply
3
Page 100 of 182
« First
50
90
96
97
98
99
100
101
102
103
104
110
150
Last »
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Cancelling all flights from April 8th-30th?
hockeypilot44
Spirit
515
04-27-2020 07:36 PM
Two can play the airline bankruptcy game
Group W Bench
Major
18
04-29-2012 07:17 PM
Direct Air files for bankruptcy
trent890
Charter
17
04-15-2012 06:39 AM
Hawaiian emerges from Ch. 11
SWAjet
Major
0
06-02-2005 05:44 PM
Back to Subforum
Spirit
View Next Unread
Australian pilots on a Visa with furloughs

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Thread Tools
Search this Thread
Search this Thread:

Advanced Search
Your Privacy Choices